LONDON: The Federation of the Swiss Watch Industry (FH) reports that Swiss watch exports had their lowest March figures since 2011 in what it characterizes as a “steep decline.” Exports, which total $1.54 billion dollars, were down 16.1 percent year over year.
The main markets were nearly all down: Hong Kong was down 37.7 percent; the United States was down 32.9 percent; China was down 13.7 percent; Japan was down 9.4 percent; and Italy was down 3.2 percent. Germany was the only main market with growth; it was up 2.2 percent. The downward trend has been in effect since July 2015.
